Intel shareholders approve the capital incentive plan, CEO’s new payment

The shareholders of San Francisco (Reuters) -Intel approved on Tuesday a measure of the chip manufacturer, aimed at reservations of stakes to attract and retain new employees and a compensation for their new CEO LIP -BU so.

Intel shares fell 1.6% in the negotiation in the early afternoon after 36% dropped in the last year.

The shareholders approved the Board of Directors of the Santa Clara Company, in California, although three members did not run for re -election. So, he took the helm in March after the Council expelled the ex -Chief Executive Pat Gelsinger in December, he will receive awards in actions of $ 42 million, depending on how Intel’s actions work.

Three shareholders’ proposals were rejected. The proposals would have required Intel to evaluate their operations in Israel, produce new reports on charity and give shareholders the right to act by written consent.

The shareholder meeting was the first for so much. The Council had lost confidence in the expensive gelsinger change plan after it could not fulfill the high promises.

He has begun to restructure Intel by flattening the leadership hierarchy and articulating a plan to reconstruct his artificial intelligence business and cut off his large layer of average management.

He said that he intends to take advantage of the most of the Intel in the personal markets of computer and data centers to offer more competitive products and that he would perfect his AI strategy.

(Report by Stephen Nellis and Max A. Cherner in San Francisco; edition of Franklin Paul and Richard Chang)